Watercraft Non-owned Insurance
Definition
- A type of insurance that provides coverage for damages to marine vessels operated by, but not owned by the policyholder. For example, if the policyholder borrows a friend's boat, a watercraft nonowned insurance policy will cover any damages that may happen while the boat is in the policyholder's care.
Synonyms
non-owned watercraft insurance, non-owned boat insurance, watercraft liability insurance
Related Terms and Acronyms
- Unvalued Marine Policy — Definition,
- Insurance that covers a marine asset to an unspecified dollar amount.
- Valuation Clause — Definition,
- A clause in an insurance contract that states how much an insurer is willing to pay for an asset after an insured event.
- Valued Marine Policy — Definition,
- Insurance that covers a marine asset up to a specified amount.
- Voyage Policy — Definition,
- Insurance that covers assets being transported by sea.
- Yacht Insurance — Definition,
- Insurance that covers yacht and pleasure boat owners for damages and liability.
